CMS vs. SO
CMS (CMS Energy Corporation) and SO (The Southern Company) are both stocks. Both operate in the Utilities - Regulated Electric industry within the Utilities sector. Over the past 10 years, CMS returned 8.55%/yr vs 10.77%/yr for SO. At a 0.49 correlation, their price movements are largely independent.
Performance
CMS vs. SO - Performance Comparison
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Returns By Period
In the year-to-date period, CMS achieves a 6.82% return, which is significantly lower than SO's 10.02% return. Over the past 10 years, CMS has underperformed SO with an annualized return of 8.55%, while SO has yielded a comparatively higher 10.77% annualized return.
CMS
- 1D
- 0.99%
- 1M
- 2.69%
- YTD
- 6.82%
- 6M
- 6.95%
- 1Y
- 7.49%
- 3Y*
- 10.50%
- 5Y*
- 7.32%
- 10Y*
- 8.55%
SO
- 1D
- 1.22%
- 1M
- 2.86%
- YTD
- 10.02%
- 6M
- 13.62%
- 1Y
- 7.91%
- 3Y*
- 14.19%
- 5Y*
- 12.20%
- 10Y*
- 10.77%
CMS vs. SO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMS CMS Energy Corporation | 6.82% | 8.13% | 18.60% | -5.21% | 0.84% | 9.71% | -0.32% | 30.04% | 8.25% | 17.03% |
SO The Southern Company | 10.02% | 9.47% | 21.72% | 2.21% | 8.24% | 16.34% | 0.63% | 51.65% | -3.75% | 2.42% |
Correlation
The correlation between CMS and SO is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1984 | 0.49 |
Over the past year, CMS and SO have become more correlated (0.77) than their long-term average of 0.49, meaning their price movements have been converging.
Fundamentals
CMS:
$4.92
SO:
$3.92
CMS:
14.95
SO:
23.98
CMS:
1.88
SO:
3.47
CMS:
$8.82B
SO:
$30.17B
CMS:
$4.16B
SO:
$13.01B
CMS:
$3.09B
SO:
$14.44B
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Return for Risk
CMS vs. SO — Risk / Return Rank
CMS
SO
CMS vs. SO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CMS Energy Corporation (CMS) and The Southern Company (SO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CMS | SO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.10 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.53 | +0.09 |
| Martin ratioReturn relative to average drawdown | 1.61 | 1.24 | +0.37 |
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Drawdowns
CMS vs. SO - Drawdown Comparison
The maximum CMS drawdown since its inception was -91.20%, which is greater than SO's maximum drawdown of -38.43%. Use the drawdown chart below to compare losses from any high point for CMS and SO.
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Drawdown Indicators
| CMS | SO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.20% | -38.43% | -52.77% |
Max Drawdown (1Y)Largest decline over 1 year | -11.48% | -14.99% | +3.51% |
Max Drawdown (3Y)Largest decline over 3 years | -19.61% | -14.99% | -4.62% |
Max Drawdown (5Y)Largest decline over 5 years | -27.56% | -23.28% | -4.28% |
Max Drawdown (10Y)Largest decline over 10 years | -29.55% | -38.43% | +8.88% |
Current DrawdownCurrent decline from peak | -7.25% | -3.95% | -3.30% |
Average DrawdownAverage peak-to-trough decline | -27.34% | -6.87% | -20.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | 6.39% | -1.97% |
Volatility
CMS vs. SO - Volatility Comparison
CMS Energy Corporation (CMS) has a higher volatility of 7.02% compared to The Southern Company (SO) at 6.03%. This indicates that CMS's price experiences larger fluctuations and is considered to be riskier than SO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMS | SO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 6.03% | +0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 12.53% | 13.07% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.28% | 16.21% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 18.67% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 21.96% | -1.25% |
Dividends
CMS vs. SO - Dividend Comparison
CMS's dividend yield for the trailing twelve months is around 3.02%, less than SO's 3.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMS CMS Energy Corporation | 3.02% | 3.10% | 3.09% | 3.36% | 3.62% | 2.67% | 2.67% | 2.43% | 2.88% | 2.81% | 2.98% | 3.22% |
SO The Southern Company | 3.60% | 3.37% | 3.47% | 3.96% | 3.78% | 3.82% | 4.13% | 3.86% | 5.42% | 4.78% | 4.52% | 4.60% |
Financials
CMS vs. SO - Financials Comparison
This section allows you to compare key financial metrics between CMS Energy Corporation and The Southern Company. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CMS vs. SO - Profitability Comparison
CMS - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CMS Energy Corporation reported a gross profit of 0.00 and revenue of 2.73B. Therefore, the gross margin over that period was 0.0%.
SO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Southern Company reported a gross profit of 3.90B and revenue of 8.40B. Therefore, the gross margin over that period was 46.5%.
CMS - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CMS Energy Corporation reported an operating income of 490.00M and revenue of 2.73B, resulting in an operating margin of 18.0%.
SO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Southern Company reported an operating income of 2.02B and revenue of 8.40B, resulting in an operating margin of 24.0%.
CMS - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CMS Energy Corporation reported a net income of 340.00M and revenue of 2.73B, resulting in a net margin of 12.5%.
SO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Southern Company reported a net income of 1.36B and revenue of 8.40B, resulting in a net margin of 16.2%.
Frequently Asked Questions
CMS and SO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMS has higher volatility (7.02%) compared to SO (6.03%). In terms of maximum drawdown, CMS dropped -91.20% vs SO's -38.43%.
SO currently has the higher Sharpe Ratio (0.49 vs 0.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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